Falling deep into a financial hole is one of those fork in the road moments of life. If you choose the wrong fork, you can spend years trying to climb out of the financial abyss. The result is an unbelievable amount of stress and anxiety that spills over to impact your personal and professional relationships. With all of the problems associated with going into debt, let us make one thing clear.
Debt collection agencies do not care about consumer financial woes. They just want to get paid.
The incredible amount of money involved in the typical debt collection process motivates many third party debt collectors to violate a groundbreaking federal consumer law. Original creditors pay handsome rewards to bill collectors for clearing up outstanding credit card and personal loan accounts. Bill collectors such as Atlantic Credit & Finance can also reap a huge profit margin by purchasing delinquent consumer debts for just a small fraction of the original amount owed.
A Federal Law Protects Consumers
For decades leading up to 1977, the debt collection industry ran roughshod over consumers by using tactics that harassed and intimated consumers into paying off personal debts. In response to a rapidly growing number of angry consumers, the United States Congress passed the Fair Debt Collection Practices Act (FDCPA).
Under the FDCPA, a debt collection agency such as Atlantic Credit & Finance is forbidden from using overly aggressive debt collection tactics. The historic consumer protection law also bans the timeless debt collection technique of using third parties to shame consumers into taking care of outstanding credit card and personal loan accounts.
The FDCPA prohibits debt collection agencies from discussing consumer debts with third parties. Discussing a consumer debt can include a general reference to a delinquent account or a blatant attempt to embarrass a consumer by mentioning how much remains to be paid. The key to proving Atlantic Credit & Finance violated the third party provision of the FDCPA involves working with a licensed consumer protection lawyer.
FDCPA Legal Remedies
According to the FDCPA, bill collectors cannot harass and intimidate consumers. The federal consumer protection law also gives consumers the right to seek statutory and/or monetary damages for one or more violations of the FDCPA.
Statutory damages represent a one-time financial award that cannot exceed $1,000. The one-time award covers every FDCPA violation committed by a debt collection agency.
Monetary damages, which are not capped by the FDCPA, cover the costs associated with suffering from physical and/or emotional distress. Common physical distress symptoms include ulcers and migraine headaches.
To win a judgment that awards you monetary damages, your FDCPA attorney must present sufficient evidence connecting your pain and suffering with the illegal actions conducted by a bill collector. Compelling evidence can be medical documents demonstrating you were treated at a licensed facility, as well as expert testimony from healthcare professionals.
Did Atlantic Credit & Finance contact a third party regarding your debt? If the answer is yes, then you should speak with an experienced consumer protection lawyer who specializes in litigating FDCPA cases. Fill out the Free Case Evaluation on this page to get connected with a lawyer that has handled claims like yours today!
*Disclaimer: The content of this article serves only to provide information and should not be construed as legal advice. If you file a claim against Atlantic Credit & Finance or any other third-party collection agency, you may not be entitled to compensation.